"Hardly even a turnaround Tuesday going on. We got a lot of people on the sidelines, but at least we are seeing some consumptive buying here. I know we have seen it in the soy complex the last couple of days, but we are seeing it in corn too," Scoville says.

Even the farmers are bearish, he says.

"They have a lot to sell though, both corn and beans. So, it's understandable why they are bearish."

It has been a fairly low volume day and people are seemingly waiting for either lower prices to buy or maybe a quick rally to sell, he says.